Federal Aviation Administration Extension Act of 2007 - Amends the Internal Revenue Code to extend through December 31, 2007: (1) the excise taxes on aviation fuels and air transportation of persons and property for funding the Airport and Airway Trust Fund; and (2) the expenditure authority for such Trust Fund.
Amends federal transportation law to extend funding through December 31, 2007, for: (1) grants for airport planning and development and airport noise compatibility planning and programs; (2) operating expenses of the Federal Aviation Administration; (3) air navigation facilities; and (4) civil aviation research and development activities.
Extends through December 31, 2007, the authority of the Secretary of Transportation to: (1) incur obligations to make project grants for public-use airports; and (2) limit the liability of air carriers to third parties for claims arising out of acts of terrorism.
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